Monday, April 11, 2011

Playing chicken with the world economy

Now that the Republicans have won two successful hostage takings and gotten huge concessions from the worst-negotiators-ever, the Democrats, the next big event is the raising of the debt ceiling.  To that end, the President has called for a straight, clean bill raising the debt ceiling, with no riders or any other attachments.  This is what's at stake:
The debt limit is a big deal because unless Congress raises it, the government will run out of money with which to operate. That would be worse than a shutdown of essential services—we simply wouldn't have enough money to fund even essential services. Worse, it would put the full faith and credit of the United States on the line, potentially setting off a worldwide financial panic.
Surely the Republicans won't game that, will they?  They won't jeopardize the entire world economy in order to defund Planned Parenthood, hobble the EPA, or to win at some other long-desired social issue, will they?  That would be completely and utterly immoral, wouldn't it?
"Well, guess what, Mr. President, not a chance you're going to get a clean bill," said [Speaker of the House John] Boehner. "And I can just tell you this. There will not be an increase in the debt limit without something really, really big attached to it."
If this doesn't prove how opportunistic, how sleazy, how un-American the Republicans in Congress are, I don't know what does. 

Of course, I blame the President and the Democrats for this.  After all, you don't negotiate with hostage-takers.

2 comments:

Eric Haas said...

I suspect that if the Republicans don’t make a fight out of it, they won’t get re-elected.

Paul Seegers said...

In the meantime, every few weeks, when the money runs out, and we put on these spectacular battles for the world to see just does not drive any faith in our system to those who invest in the U.S.